Sunday, April 27, 2014

OBQ and ROB

ON BOARD QUANTITY (OBQ): All the oil, water, sludge and sediment in the cargo and associated lines and pumps on a ship before loading a cargo commence. (this term may not apply to product movement). QUANTITY REMAINING ON BOARD (ROB): All the oil, water, sludge and sediment in the cargo tanks and associated lines and pumps on a ship after discharging a cargo has been completed, excluding vapour but including clingage. (this term may not apply to product movements) Determine the OBQ/ROB for Liquids as follows: (1)    By measurement determine the depth of liquid in each tank. Measure-ments should be taken at as many points as possible to ascertain if the liquid covers the tank bottom. (2)    Where there is a sufficient depth of liquid determine its temperature....
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Basic Concepts in Data Reconciliation

1.1 Process Measurements Measured process data inevitably contain some inaccurate information, since measurements are obtained with imperfect instruments which have their own accuracy. In addition, signal transmission, power fluctuation, improper instrument installation and miscalibration are other sources of measurement errors. It is assumed that any observation is composed of a true value plus some error value. This indicates that a measurement can be modeled as: y = x + e           (1.1) where y is the observed value of the raw measurement, x is the true value of the process variable, and...
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Friday, April 25, 2014

Trading Strategies for Crude Futures

Crude oil futures traders can match their trading strategy with their risk tolerance. Comstock Images/Comstock/Getty Images Crude oil futures are known for their high volatility and wide price swings. It’s not unusual for crude oil futures to trade down in the morning but close at a new high when the trading day ends. Traders use several popular strategies that take advantage of crude oil’s unpredictable nature. By analyzing the crude oil futures market, traders select the tactics they believe will result in a profit before the crude oil futures contract expires. Buy and Hold Trading Strategy Buy and hold is probably the best known...
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